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Meta CEO Mark Zuckerberg has announced the company will delay taking commission from Facebook and Instagram creators until 2024.
“We are heading towards a future where more people can do creative work they enjoy, and I want platforms like ours to play a role in making that happen,” Zuckerberg wrote in a social media post.
The company further said Instagram and Facebook will expand the Reels bonus program to more creators and let them monetise their short videos across the platforms.
New features
Zuckerberg also listed a few ways for creators to make money on Facebook and Instagram such as interoperable subscriptions, Stars and digital collectibles.
Interoperable subscriptions will let creators provide their subscribers on other platforms access to subscriber-only Facebook Groups. Zuckerberg also tipped a feature called Stars to let users generate money through Reels and Live. In addition, the company is also testing a ‘creator marketplace’ for brands and creators to interact for sponsorships and other business opportunities.
On digital collectables, Zuckerberg said, “We will bring this feature to Facebook soon too — starting with a small group of US creators — so people can cross-post on Instagram and Facebook.” Reportedly, Meta is also expanding its support for NFTs on Instagram, which it began testing last month.
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